The Problem
After the removal of fuel subsidies in Nigeria, the repercussions extend far beyond mere economic burdens. The surge in the cost of traditional energy sources, namely gasoline and diesel, has triggered a domino effect, rippling through various sectors of society.
Firstly, the spike in transportation costs has inflicted a severe blow on the economy, amplifying the prices of goods and services. This inflationary pressure has cascaded down to consumers, burdening them with escalated living expenses. The strain is particularly acute for low-income individuals and small businesses, for whom every naira counts.
Moreover, the transit challenges exacerbate the situation. With higher fuel prices, public transportation fares have soared, making commuting unaffordable for many. This not only deepens the financial strain on individuals but also hampers their access to essential services and job opportunities. Rural communities, already marginalized, find themselves further isolated as transportation becomes prohibitively expensive or scarce.